Globe Life (NYSE:GL) Shares Cross Above Two Hundred Day Moving Average – Should You Sell?

Shares of Globe Life Inc. (NYSE:GL) crossed above its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $159.54 and traded as high as $162.05. Globe Life shares last traded at $160.57, with a volume of 641,646 shares changing hands.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on GL shares. TD Cowen decreased their price target on Globe Life from $225.00 to $215.00 and set a “buy” rating on the stock in a research report on Friday, October 23rd. Weiss Ratings upgraded shares of Globe Life from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, October 21st. JPMorgan Chase & Co. boosted their price objective on shares of Globe Life from $193.00 to $195.00 and gave the company an “overweight” rating in a research note on Thursday, October 15th. Piper Sandler cut shares of Globe Life from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $200.00 to $165.00 in a research note on Friday, October 23rd. Finally, UBS Group set a $165.00 target price on shares of Globe Life in a report on Friday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Globe Life currently has a consensus rating of “Moderate Buy” and a consensus target price of $181.50.

Globe Life Trading Up 1.4%

The stock has a market cap of $12.34 billion, a P/E ratio of 10.74 and a beta of 0.44. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.07 and a current ratio of 0.07. The stock has a 50-day moving average price of $168.53 and a 200-day moving average price of $159.54.

Globe Life (NYSE:GL) last issued its quarterly earnings data on Wednesday, October 21st. The company reported $4.84 EPS for the quarter, missing the consensus estimate of $4.90 by ($0.06). The business had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.56 billion. Globe Life had a return on equity of 19.95% and a net margin of 18.89%. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.81 EPS. On average, equities research analysts expect that Globe Life Inc. will post 15.48 EPS for the current year.

Globe Life Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Monday, October 5th will be given a dividend of $0.33 per share. The ex-dividend date is Monday, October 5th. This represents a $1.32 annualized dividend and a yield of 0.8%. Globe Life’s payout ratio is presently 8.83%.

Globe Life announced that its Board of Directors has initiated a stock repurchase plan on Monday, August 10th that authorizes the company to repurchase $2.50 billion in shares. This buyback authorization authorizes the company to buy up to 17.7% of its shares through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In other news, EVP Michael Majors sold 14,377 shares of the firm’s stock in a transaction on Friday, October 23rd. The shares were sold at an average price of $154.48, for a total transaction of $2,220,958.96. Following the sale, the executive vice president owned 39,141 shares in the company, valued at approximately $6,046,501.68. This trade represents a 26.86% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Robert Hensley sold 10,000 shares of the firm’s stock in a transaction on Tuesday, September 22nd. The shares were sold at an average price of $170.07, for a total transaction of $1,700,700.00. Following the sale, the executive vice president owned 12,384 shares in the company, valued at approximately $2,106,146.88. This trade represents a 44.67% decrease in their position. The SEC filing for this sale provides additional information. 2.11% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in GL. Amundi lifted its stake in Globe Life by 307.4% during the second quarter. Amundi now owns 162,223 shares of the company’s stock worth $28,986,000 after purchasing an additional 122,402 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Globe Life during the 2nd quarter valued at about $4,574,000. Sei Investments Co. increased its position in shares of Globe Life by 49.1% during the 1st quarter. Sei Investments Co. now owns 71,795 shares of the company’s stock valued at $9,993,000 after purchasing an additional 23,632 shares during the last quarter. State Street Corp increased its position in shares of Globe Life by 2.1% during the 2nd quarter. State Street Corp now owns 3,735,409 shares of the company’s stock valued at $667,443,000 after purchasing an additional 76,745 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Globe Life during the 2nd quarter valued at about $17,229,000. Institutional investors own 81.61% of the company’s stock.

Globe Life Company Profile

Globe Life Inc (NYSE: GL) is an insurance holding company that provides individual life and supplemental health insurance products through a network of wholly owned subsidiaries. Its offerings are designed primarily for middle-income households and include term and whole life insurance, mortgage protection coverage, accident and supplemental health insurance, Medicare supplement policies, and annuities.

The company markets its products through several distribution channels, including exclusive and independent agency networks, direct-to-consumer sales, and workplace or union-affiliated programs.